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Comex Trading Signals and Market News – 04 July 2016

INTERNATIONAL COMMODITY NEWS :

Lead futures jumped by more than 1 per cent during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for lead from battery-makers in the domestic spot market.Worries over the fallout of Brexit on the global economy eased after central banks pledged to support financial markets by signaling looser monetary policy improving metal demand outlook.

Gold prices jumped over 1% on Friday, still hovering close to the previous week’s 27-month highs as continued uncertainty following the Brexit vote and concerns over a slowdown in China lent support to the safe-haven precious metal.On the Comex division of the New York Mercantile Exchange, gold futures for August delivery rallied 1.08% to $1,334.90.The August contract ended Thursday’s session 0.47% lower at $1,320.60 an ounce.

Natural Gas futures climbed during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the energy commodity after a smaller than expected US stockpile build last week signaled a pickup in demand for the power plant fuel in the world’s biggest gas consuming nation.

ECONOMY NEWS :

China’s central bank said on Friday it injected a total of 210.72 billion yuan ($31.7 billion) via short- and medium-term liquidity facilities in June to help support credit growth and the economy.June liquidity injections, however, were down 27.5 percent from May, data showed.The People’s Bank of China (PBOC) said in a statement on its website it injected 208 billion yuan to financial institutions via its medium-term lending facility (MLF) in June.

Central banks are closely monitoring the impact on markets of Britain’s decision to leave the European Union
and stand ready to intervene if financial stability is threatened, ECB Executive Council member Benoit Coeure
told Le Monde on Friday.Coeure said it was urgent now to clarify the calendar for Britain’s exit from the EU
because prolonged uncertainty would have an economic cost, first of all for Britain but also for the EU.

The euro zone’s economy is recovering but still faces a number of risks, including the fallout from Britain’s vote to leave the European Union, the European Central Bank’s chief economist said on Friday.”The ongoing recovery has shown signs of strengthening,” Peter Praet said in remarks prepared for a speech in London. “And the ECB is determined to continue playing its pivotal role in consolidating the upswing in the economic cycle.